Crypto firm backed by Trump family sells $550 million worth of tokens amid ethical concerns | Technology News
World Liberty Financial, one of several crypto ventures backed by the family of US President Donald Trump, has netted a total of $550 million from selling tokens to crypto investors in two rounds of sales.
Over $250 million worth of the crypto assets were bought during the firm’s second token sale. More than 85,000 participants submitted to know-your-customer (KYC) verification to gain access to the token sale, the company said in a press release on Monday, March 17.
The token sales were only open to accredited investors. WLFI tokens cannot be transferred or traded via crypto exchanges as the company is not yet listed, according to a report by CoinDesk. “WLFI is on track to supercharge DeFi [decentralised finance],” Zach Witkoff,…
